Utz Brands, Inc. (NYSE:UTZ) Given Average Recommendation of "Moderate Buy" by Analysts

Shares of Utz Brands, Inc. (NYSE:UTZ - Get Free Report) have received an average rating of "Moderate Buy" from the ten brokerages that are presently covering the stock, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $20.80.

A number of equities analysts recently issued reports on UTZ shares. Barclays lowered their price target on Utz Brands from $23.00 to $19.00 and set an "overweight" rating on the stock in a report on Friday, July 19th. Piper Sandler raised their price objective on shares of Utz Brands from $22.00 to $24.00 and gave the company an "overweight" rating in a research note on Friday. Mizuho decreased their target price on Utz Brands from $24.00 to $21.00 and set an "outperform" rating on the stock in a research report on Monday. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $22.00 price target on shares of Utz Brands in a research report on Friday, August 2nd.

Utz Brands Stock Down 0.6 %

Utz Brands stock traded down $0.11 during midday trading on Tuesday, reaching $17.23. The company's stock had a trading volume of 575,399 shares, compared to its average volume of 757,461. The business has a 50-day simple moving average of $17.31 and a 200-day simple moving average of $17.24. The company has a market cap of $2.43 billion, a P/E ratio of -90.68, a P/E/G ratio of 1.19 and a beta of 1.01. Utz Brands has a fifty-two week low of $11.67 and a fifty-two week high of $20.04. The company has a quick ratio of 0.85, a current ratio of 1.21 and a debt-to-equity ratio of 0.56.

Utz Brands (NYSE:UTZ - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.01. The company had revenue of $365.50 million during the quarter, compared to the consensus estimate of $363.98 million. Utz Brands had a negative net margin of 0.99% and a positive return on equity of 7.25%. Utz Brands's revenue for the quarter was down 1.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.17 earnings per share. On average, research analysts expect that Utz Brands will post 0.74 earnings per share for the current fiscal year.

Utz Brands Announces Dividend

The business also recently declared a None dividend, which was paid on Thursday, October 3rd. Shareholders of record on Monday, September 16th were paid a dividend of $0.011 per share. This represents a yield of 1.3%. The ex-dividend date of this dividend was Monday, September 16th. Utz Brands's dividend payout ratio is currently -126.32%.

Insider Buying and Selling at Utz Brands

In other news, EVP Cary Devore sold 30,000 shares of the company's stock in a transaction on Monday, November 4th. The shares were sold at an average price of $17.32, for a total value of $519,600.00. Following the completion of the transaction, the executive vice president now directly owns 451,117 shares in the company, valued at approximately $7,813,346.44. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 17.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Utz Brands

Several institutional investors and hedge funds have recently bought and sold shares of the business. Victory Capital Management Inc. raised its stake in shares of Utz Brands by 19.0% during the third quarter. Victory Capital Management Inc. now owns 1,474,047 shares of the company's stock valued at $26,091,000 after purchasing an additional 235,622 shares in the last quarter. GSA Capital Partners LLP grew its position in Utz Brands by 100.0% during the 3rd quarter. GSA Capital Partners LLP now owns 165,896 shares of the company's stock worth $2,936,000 after purchasing an additional 82,935 shares in the last quarter. State of New Jersey Common Pension Fund D increased its holdings in shares of Utz Brands by 16.1% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 116,544 shares of the company's stock valued at $2,063,000 after purchasing an additional 16,201 shares during the period. Smith Group Asset Management LLC raised its stake in shares of Utz Brands by 24.2% during the 3rd quarter. Smith Group Asset Management LLC now owns 27,093 shares of the company's stock worth $480,000 after purchasing an additional 5,278 shares in the last quarter. Finally, Legacy Wealth Asset Management LLC raised its holdings in shares of Utz Brands by 11.6% during the 3rd quarter. Legacy Wealth Asset Management LLC now owns 40,176 shares of the company's stock valued at $711,000 after purchasing an additional 4,182 shares in the last quarter. Institutional investors and hedge funds own 95.97% of the company's stock.

About Utz Brands

Utz Brands, Inc engages in manufacture, marketing, and distribution of snack foods. It offers a range of salty snacks, including salty snacks, including potato chips, tortilla chips, pretzels, cheese snacks, pork skins, veggie snacks, pub/party mixes, tortilla chips, salsa and dips, ready-to-eat popcorn, and other snacks under the Utz, Zapp's, ON THE BORDER, Golden Flake, Boulder Canyon, Hawaiian, TORTIYAHS!, etc.